Is Ace Maestro for Sale?

The conglomerates Ripley and Cencosud, from Chile, affirm that they have talked with the proprietors of Ace Home Center for a possible purchase or merger, whereas this chain denies it sharply.

Most analysts of retail sector consider that Maestro is not on sale... at this very moment. After the recent entrance of the investment group Enfoca, Maestro Ace Home Center, previous injection of capital, aims to become a shopping center developer (in fact already it opened one in Ate) and to open an own financing company. The idea of Enfoca (who represents American real estate group Farallon Capital) is to consolidate the company and soon to sell it to a much greater price in the medium term (not more than five years).

Publication: Dia Uno
Provider: El Comercio
Date: October 1, 2007

The translation of this article has been prepared using machine translation software, which has been enhanced with a specialized dictionary

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